Tuberculosis Diagnostics Market: Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

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Tuberculosis Diagnostics Market: Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

Status : August, 2020 | Medical Devices | PPT format

Report Digest

Tuberculosis Diagnostics Market: Overview

The tuberculosis diagnostics market may experience a meteoric rise in the growth rate during the forecast period of 2019-2029 with various initiatives and campaigns to raise awareness about tuberculosis serving as the prime factor. According to the World Health Organization (WHO), 1.5 million people died from tuberculosis in the year 2018. Tuberculosis is one of the top 10 leading death causes across the world. These facts shed light on the need for diagnosing tuberculosis at an early stage. Therefore, this aspect may boost the growth rate of the tuberculosis diagnostics market greatly.

This tuberculosis diagnostics market report strikes the right chord in analyzing various factors influencing the growth rate. Some major parameters such as key trends, competitive landscape, and the regional outlook of the tuberculosis diagnostics market have been thoroughly studied and covered in this report. Market stakeholders can greatly benefit from this deeply scrutinized report on the tuberculosis diagnostics market. Furthermore, this report also sees the tuberculosis diagnostics market through the lens of the COVID-19 outbreak, thus giving a complete idea of the market scenario.

Tuberculosis Diagnostics Market: Competitive Analysis

The tuberculosis diagnostics market comprises of numerous new players and well-established players on its horizon. New startups are emerging with novel tuberculosis diagnostics devices that assist in rapid tuberculosis detection. Quick approvals from governing bodies are also proving to be growth generators for the tuberculosis diagnostics market. In addition, new product launches, mergers, acquisitions, collaborations, joint ventures, and partnerships are assisting in increasing the growth rate of the tuberculosis diagnostics market.

Some well-entrenched players in the tuberculosis diagnostics market are BioMérieux SA, Thermo Fisher Scientific Inc., Abbott Laboratories, F.Hoffman-La Roche AG, and Becton, Dickinson and Company.

Tuberculosis Diagnostics Market: Key Trends

The growing impact of the COVID-19 pandemic on the world has prompted many countries to adopt vigorous testing measures as one of the gold standards for flattening the curve. Many tuberculosis diagnostics devices are proving to be beneficial for rapid COVID-19 testing. Hence, this factor may prove to be a game-changer for the tuberculosis diagnostics market. Many manufacturers are redesigning or incorporating new formulations to make tuberculosis diagnostics devices efficient for COVID-19 testing.

Governments of various countries are giving approvals for tuberculosis diagnostics platforms to increase the COVID-19 testing rate. For instance, the Government of India recently approved the TrueNAT testing platform for COVID-19 testing.

Approvals for novel tuberculosis testing methods are also proving to be the knight in shining armor for the growth of the tuberculosis diagnostics market. Recently, a combined team of researchers from the U.S. and India designed a point-of-care tuberculosis triage test kit. It is based on proteins that act against tuberculosis. Thus, such developments accelerate the growth rate of the tuberculosis diagnostics market.

Tuberculosis Diagnostics Market: Regional Outlook

The tuberculosis diagnostics market is geographically classified into North America, the Middle East and Africa, Europe, Asia Pacific, and South America. Asia Pacific may raise the bar of growth for the tuberculosis diagnostics market due to the increasing prevalence of tuberculosis in India, Indonesia, Bangladesh, Pakistan, and China. According to WHO, eight countries account for two-thirds of the worldwide tuberculosis cases, out of which, most countries are from the Asia Pacific. In addition, as mentioned in the ‘Key Trends’ section, the Indian Government has approved TRUENat testing for COVID-19. Also, India aims to end tuberculosis by 2025. Therefore, these factors may also turn out to be key influencers for the tuberculosis diagnostics market growth.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.